Daily Times

ISLAMABAD: On Wednesday, the federal cabinet was briefed on the current economic and political situation prevailing in the country.

The meeting was held at PM House under the chairmanship of Prime Minister Shehbaz Sharif.

Several matters of importance including the economic situation, energy and law and order were discussed in the meeting.

The cabinet was briefed that the growth rate of Gross Domestic Product (GDP) was 6.1 percent between 2017 and 2018, before the start of the PTI government, whereas, it was at 4 percent only between 2021 and 2022, in the last year of the PTI government.

It was also briefed that the national exchequer had to bear a loss of Rs67 billion due to the subsidy given on petrol and diesel during the months of April and May apparently for political point-scoring.

The meeting was also told that the national exchequer bore Rs52 per litre loss on diesel and Rs22 per litre loss on petrol.

Meanwhile, Minister for Information and Broadcasting Marriyum Aurangzeb tweeted that the federal cabinet was briefed on the economic disaster, unprecedented criminally irresponsible fiscal acts during the past 4 years by Imran Khan.

She said that during Imran’s rule, inflation, poverty, unemployment, debts and deficits rose.

She maintained that Imran Khan’s term was marred by corruption and this was the reality of Naya Pakistan.

Quoting the figures, she said that in the fiscal year 2017-18, GDP growth stood at 6.1 percent which fell to only 4 percent in 2021-22.

She further highlighted that in 2017-18, the CPI inflation was at 3.9 percent which shoot up to 10.9 percent in 2021-22 whereas the SPI inflation which was at 0.9 percent in 2017-18 increased to 17.3 percent.

The food inflation which stood at 2.3 percent during 2017-18 shoot up to 10.2 percent, she stated.

The first meeting of the federal cabinet took up a seven-point agenda during which the federal cabinet was briefed by various divisions.

The cabinet members were first briefed on the e-cabinet system. They were also briefed by finance division about the current economic situation and challenges.